New Home Building and Investment Property Tips and News

The team at Carnelian have been reflecting on the changes they have witnessed in the building industry.

Twenty years ago in most Lake Macquarie suburbs, hardiplank was the trend in building. It was popular because you could paint the house any colour you wanted (one client painted her house purple and pink) and it was very cost effective and quick to build.

In most recent times the majority of houses being built are rendered brick with a combination of brick and colorbond. This has been brought about due to strict bushfire zoning restrictions imposed on most land estates. There are circumstances where houses have a brick façade and the sides and back of the house are clad in colorbond. This adds an interesting feature and provides the opportunity for a variety in colour as well as meeting the bushfire restrictions. A full brick veneer is still the most expensive way to build, however a combination of brick and colorbond provides an architectural difference to the home as well as being cost effective.

A recent article in the Property Observer by Mark Bouris of Yellow Brick Road, talks about when is the best time to buy property.

There is a lot of data to consume when analysing property on a regional, state or national level. Considering only one lot of data in isolation could provide a false reading of a much larger picture.

In comparing property prices from one year to the next, if you notice a drop in prices this does not necessarily mean that property is looking to be a bad investment. What you also need to look at is the data from 4 to 5 years ago, compare this to the current market and use that as a good indicator of the overall growth within a certain area or sector of the market.

It is for this reason that Mark Bouris urges people to "take this market in five- to 10-year windows."

As Mark Bouris explains, "Property, in the end, is a medium/long term asset: one step back can be countered by three steps forward. But you have to be patient and strategic: your investment needs time. It can’t reach the peaks if you sell in the troughs."The full article available at Property Observer.